Gold Extends Loss To Third Straight Session on Monday, Sept. 9

by CoinNews.net on September 9, 2019 · 0 comments

Three Gold Bullion Bars and Nuggets

Gold futures edged 0.3% lower on Monday, Sept. 9

Precious metals futures declined in kicking off the new trading week, aside from silver which gained 0.3%. Gold pressed its losing streak to three in row.

Gold for December delivery lost $4.40, or 0.3%, to settle at $1,511.10 an ounce on the Comex division of the New York Mercantile Exchange.

“The main trend remains positive, even though prices are now playing with the psychological level of $1,500 and there could be space for a further correction to around $1,475, without affecting the main bullish trend,” Carlo Alberto De Casa, chief analyst at brokerage ActivTrades, said a daily research note according to MarketWatch.

Gold futures ranged from a low of $1,505.50 to a high of $1,523.80. They declined last week by 0.9%. On Wednesday, they closed at $1,560.40 an ounce for their highest settlement since April 11, 2013.

Silver for December delivery added 4.8 cents to finish at $18.167 an ounce. Silver futures traded between $18.01 and $18.40. They slipped 1.2% last week. On Wednesday, silver ended at $19.547 an ounce for its best settlement since Sept. 26, 2016.

In other precious metals futures prices Monday:

  • October platinum shed $5.80, or 0.6%, to $952.70 an ounce, ranging from $945.30 to $965.

  • Palladium for December delivery fell $7.90, or 0.5%, to $1,536.80 an ounce, trading between $1,518.60 and $1,557.60.

Last week, platinum gained 2.9% and palladium rose 0.4%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold declined $14.50, or 1%, to $1,509.20 an ounce.
  • Silver rose 2.5 cents, or 0.1%, to $18.17 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

In LBMA results last week, prices climbed 0.9% for platinum while falling 0.3% for gold, 1.3% for silver, and 0.1% for palladium.

US Mint 2019 Bullion Sales

United States Mint bullion sales advanced by a 1,000 ounces in American Gold Eagles and by a combined 454,500 ounces in silver coins.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday Last Week August September 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,000 1,500 6,500 2,500 89,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 23,000
$10 American Eagle 1/4 Oz Gold Coin** 0 0 0 0 28,000
$5 American Eagle 1/10 Oz Gold Coin*** 0 5,000 0 10,000 170,000
$50 American Buffalo 1 Oz Gold Coin 0 500 1,500 500 50,000
$1 American Eagle 1 Oz Silver Coin 442,000 11,000 1,007,000 453,000 12,722,000
War in the Pacific 5 Oz Silver Coin 2,500 0 12,500 2,500 72,000
American Memorial Park 5 Oz Silver Coin* 0 0 2,000 0 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

**U.S. Mint figures on Monday showed and August adjustment for 1/4oz American Gold Eagles of -2,000 ounces to zero, pulling their year-to-date total down to 28,000.

***U.S. Mint figures also indicated an adjustment for 1/10oz American Gold Eagles of -5,000 ounces in August to zero and +5,000 ounces in September to 10,000 ounces.

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